INNERGEX COMPLETES THE ACQUISITION
OF THE WALDEN HYDROELECTRIC FACILITY IN BC

LONGUEUIL, Quebec, February 25, 2016 – Innergex Renewable Energy Inc. (TSX: INE) (“Innergex” or the “Corporation”), in partnership with the Cayoose Creek Indian Band, has completed the previously announced acquisition of the Walden North hydroelectric facility located in the province of British Columbia, Canada.

Innergex and Cayoose Creek Development Corporation, the economic arm of the Cayoose Creek Indian Band, have formed the Cayoose Creek Limited Partnership, which in turn has acquired the assets that make up the facility from FortisBC. The transaction closed at a final total purchase price of $9.2 million.

Walden North is a 16 MW facility commissioned in 1992 and located on private land in Cayoosh Creek near Lillooet, in close proximity to several of the Corporation’s other hydroelectric facilities.

About the Cayoose Creek Band

Cayoose Creek Band or Sekw’el’was is nestled in the middle of the Fraser Canyon, just south of Lillooet, BC on Highway 99. Sekw’el’was is known as a gathering place for many neighboring nations. The community of just under 200 has survived and thrived through many hardships. Community members are proud of their roots and the community has a rich history of tool making and trading with other nations. Sekw’el’was is a member of St’at’imc Nation.

About Innergex Renewable Energy Inc.

Innergex Renewable Energy Inc. (TSX: INE) is a leading Canadian independent renewable power producer. Active since 1990, the Corporation develops, owns, and operates run-of-river hydroelectric facilities, wind farms, and solar photovoltaic farms and carries out its operations in Quebec, Ontario, British Columbia, and Idaho, USA. Its portfolio of assets currently consists of: (i) interests in 35 operating facilities with an aggregate net installed capacity of 716 MW (gross 1,232 MW), including 28 hydroelectric operating facilities, six wind farms, and one solar photovoltaic farm; (ii) interests in four projects under development or under construction with an aggregate net installed capacity of 187 MW (gross 297 MW), for which power purchase agreements have been secured; and (iii) prospective projects with an aggregate net capacity totaling 3,280 MW (gross 3,530 MW). Innergex Renewable Energy Inc. is rated BBB- by S&P.

The Corporation’s strategy for building shareholder value is to develop or acquire high-quality facilities that generate sustainable cash flows and provide an attractive risk-adjusted return on invested capital, and to distribute a stable dividend.

Forward-Looking Information Disclaimer

In order to inform readers of the Corporation’s future prospects, this press release contains forward-looking information within the meaning of applicable securities laws (“Forward-Looking Information”). Forward-Looking Information can generally be identified by the use of words such as “projected”, “potential”, “expect”, “will”, “should”, “estimate”, “forecasts”, “intends”, or other comparable terminology that states that certain events will or will not occur. It represents the estimates and expectations of the Corporation relating to future results and developments as of the date of this press release. It includes future-oriented financial information, such as expected production, revenues and Adjusted EBITDA, to inform readers of the potential financial impact of the Walden North hydroelectric facility. Such information may not be appropriate for other purposes.

Forward-Looking Information in this press release is based on certain key expectations and assumptions made by the Corporation. The following table outlines Forward-Looking Information contained in this press release, the principal assumptions used to derive this information and the principal risks and uncertainties that could cause actual results to differ materially from this information.

Material risks and uncertainties

The material risks and uncertainties that may cause actual results and developments to be materially different from current expressed Forward-Looking Information are referred to in the Corporation’s Annual Information Form in the “Risk Factors” section and include, without limitation: the ability of the Corporation to execute its strategy for building shareholder value; its ability to raise additional capital and the state of capital markets; liquidity risks related to derivative financial instruments; variability in hydrology, wind regimes and solar irradiation; delays and cost overruns in the design and construction of projects; uncertainty surrounding the development of new facilities; variability of installation performance and related penalties; and the ability to secure new power purchase agreements or to renew existing ones.

Although the Corporation believes that the expectations and assumptions on which Forward-Looking Information is based are reasonable, readers of this press release are cautioned not to rely unduly on this Forward-Looking Information since no assurance can be given that they will prove to be correct. The Corporation does not undertake any obligation to update or revise any Forward-Looking Information, whether as a result of events or circumstances occurring after the date of this press release, unless so required by legislation.

]]>5924SAIK’UZ First Nation and INNERGEX Sign a 50-50 Partnership to Develop a Wind Energy Project at Nulki Hillshttp://bc.nationtalk.ca/story/saikuz-first-nation-and-innergex-sign-a-50-50-partnership-to-develop-a-wind-energy-project-at-nulki-hills
http://bc.nationtalk.ca/story/saikuz-first-nation-and-innergex-sign-a-50-50-partnership-to-develop-a-wind-energy-project-at-nulki-hills#commentsFri, 17 Apr 2015 22:18:55 +0000http://bc.nationtalk.ca/story/saikuz-first-nation-and-innergex-sign-a-50-50-partnership-to-develop-a-wind-energy-project-at-nulki-hillsSAIK’UZ FIRST NATION AND INNERGEX SIGN A 50-50 PARTNERSHIP TO DEVELOP A WIND ENERGY PROJECT AT NULKI HILLS Saik’uz, British Columbia, April 17, 2015 – Innergex Renewable Energy Inc. (“Innergex” or the “Corporation”) and the Saik’uz First Nation (“Saik’uz”) are pleased to announce the signing of an agreement to jointly develop a prospective wind energy […]

SAIK’UZ FIRST NATION AND INNERGEX SIGN A 50-50 PARTNERSHIP
TO DEVELOP A WIND ENERGY PROJECT AT NULKI HILLS

Saik’uz, British Columbia, April 17, 2015 – Innergex Renewable Energy Inc. (“Innergex” or the “Corporation”) and the Saik’uz First Nation (“Saik’uz”) are pleased to announce the signing of an agreement to jointly develop a prospective wind energy project at Nulki Hills near Vanderhoof, British Columbia.

Innergex and Saik’uz First Nation have agreed on commercial terms for a 50-50 partnership to develop the proposed Nulki Hills prospective wind project, representing up to 210 MW of clean renewable power. The project is currently undergoing a BC Environmental Assessment. The partners have agreed to work together to obtain an Environmental Assessment Certificate from the province and an electricity purchase agreement from BC Hydro for the project.

In December 2013, Saik’uz and Innergex signed a Letter of Intent and a Traditional Knowledge Protocol Agreement, through which the partners highlighted their commitment to meaningful consultation during all stages of project development and to establish and determine the terms for a long-term cooperative and mutually respectful relationship throughout the life cycle of the project. At that time, the parties agreed to a process to gather, document and preserve Saik’uz traditional knowledge and to address the ownership, protection and integration of traditional knowledge in the development of the project.

“We are very enthusiastic about signing the term sheet for a 50-50 partnership with the Saik’uz First Nation,” said Richard Blanchet, Senior Vice President – Development, Western Canada and Latin America at Innergex. “Our partnership reflects the commitment between Innergex and Saik’uz to work together, respectfully and collaboratively. This agreement solidifies our plans to bring sustainable economic development opportunities to Saik’uz and the District of Vanderhoof,” added Mr. Blanchet.

“We have had a very positive relationship with Innergex to date and we are extremely pleased to enter into a partnership with them,” said Saik’uz First Nations Chief Stanley Thomas. “We are excited about the new opportunities the Nulki Hills project will bring for our community, and we are confident that they will take place in a manner that is respectful of the environment, our culture and our constitutional aboriginal rights, titles and interest.”

About the Saik’uz First Nation

Saik’uz First Nation is a Carrier community near Nulki Lake, south of Vanderhoof – the geographical center of the province. Saik’uz. Pronounced ‘sigh-cuz’, the nation has over 1,000 members, many of whom are young and employable. Saik’uz supports environmentally friendly and sustainable projects and has visited two existing wind projects in Northern British Columbia and one in Quebec. The tours to wind projects were instrumental for Saik’uz to understand the scope and nature of the proposed project.

About Innergex Renewable Energy Inc.

Innergex Renewable Energy Inc. is a leading Canadian independent renewable power producer. Active since 1990, the Company develops, owns and operates run-of-river hydroelectric facilities, wind farms and solar photovoltaic farms and carries out its operations in Quebec, Ontario and British Columbia and in Idaho, USA. Its portfolio of assets currently consists of: (i) interests in 33 operating facilities with an aggregate net installed capacity of 687 MW (gross 1,194 MW), including 26 hydroelectric operating facilities, six wind farms, and one solar photovoltaic farm; (ii) interests in five projects under development or under construction with an aggregate net installed capacity of 208 MW (gross 319 MW), for which power purchase agreements have been secured; and (iii) prospective projects with an aggregate net capacity totaling 3,190 MW (gross 3,330 MW). Innergex Renewable Energy Inc. is rated BBB- by S&P. Its shares are listed on the Toronto Stock Exchange under the symbol “INE”.